Or. Admin. Code § 629-032-0040 - Request to Bid by Purchaser
(1) If a purchaser in default wishes to bid
on the resale of the defaulted contract and future contracts, the purchaser
shall so notify the forester in writing within 30 days of receiving the notice
of default. The forester shall, within 30 days of the receipt of the notice,
notify the purchaser of the estimated damages and expenses incurred by the
State as a result of the default, using the method set out in OAR
629-032-0060.
(2) The forester shall notify the purchaser
of the estimated amount of damages and expenses by certified mail. The notice
of estimated damages and expenses shall inform the purchaser of the right to
request a contested case hearing pursuant to OAR
629-032-0050 and the time within
which such request must be made.
(3) If purchaser makes payment of the
estimated damages and expenses prior to the resale of the defaulted contract,
the forester shall grant permission to the purchaser to bid on the resale and
future sales.
(4) The forester
shall not give permission to bid on the resale of the defaulted sale or future
sales if other defaults by the purchaser are outstanding.
(5) If the purchaser is in the process of
settling the defaulted contract with the forester under the provisions of OAR
629-032-0060, the purchaser may
bid on contracts other than the defaulted contract if the purchaser posts a
bond in the amount sufficient to cover the estimated damages and expenses
determined by the forester, or places in an escrow account cash or marketable
securities acceptable to the forester that are readily convertible into cash in
an amount sufficient to cover the estimated damages and expenses of the
defaulted contract, or a combination of such bond, cash and securities in the
required amount. The terms of the escrow agreement shall be satisfactory to the
forester. The forester shall grant permission to bid on other contracts under
this provision only if no other defaults by purchaser are
outstanding.
Notes
Stat. Auth.: ORS 526 & ORS 530
Stats. Implemented: ORS 526.041, ORS 526.046 & ORS 530.059
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